XRP (XRP) Price Prediction: Could the Altcoin Lose Its Gains and Settle at $2.95?

XRP suffered significant losses early this week on Monday after it saw a price decrease of 6.7% following Donald Trump's swearing-in.

XRP price saw a sell signal on the daily chart, indicating a potential sell-off that could lead to a deeper correction. XRP price dropped early this week following Donald Trump's swearing-in.

Crypto trader Ali Martinez shared an aggressive projection of the XRP market with a TD Sequential sell signal on Ripple's weekly chart. This indicator typically signals a potential major pullback in price.

If the sell signal on the $XRP daily chart holds, XRP could see a deeper correction to the tune of $3.11. However, if selling pressure intensifies, the asset could experience a further decline, dropping to a low of $2.95—marking a potential 8.67% decrease from XRP's current price.

XRP price experienced a significant uptrend this month, rising almost 50% and reaching $3.39 on January 18, marking its highest point in nearly seven years. Despite this impressive gain, the token appears set to experience a sell-off.

According to Martinez's technical analysis, XRP's strong uptrend is weakening as traders cash out their profits. This sell-off is also driven by declining buying pressure, which could add selling pressure toward the $2.95 downswing target in the next few days or weeks.

Bitcoin and other cryptocurrencies saw their strengths slow down on Tuesday. This decline comes after President Trump announced several executive orders following his swearing-in, but made no mention of cryptocurrencies.

XRP price dropped 6.7% on Monday after Trump was officially sworn in as the US president. Despite this setback, XRP is still up 21.6% in the last seven days and 42% in the past month.

The sell-off occurred after President Trump announced the appointment of Mark Uyeda as the acting SEC chairman. Uyeda, known for his crypto-friendly stance, took over from Gary Gensler, who left office on Monday.

Crypto market experts believe that Uyeda could lead the SEC to withdraw the appeal in the Ripple case, a development that could spur further gains for XRP.

XRP's long-term prospects remain bright, with the potential rollout of spot XRP ETFs in the US. Market analysts suggest that these ETFs could attract a substantial portion of investors' funds if given the green light by the SEC.

XRP investment products are also driving力は Ripple's growth. According to the latest CoinShare data (released yesterday), XRP investment products have registered net inflows of $484 million since mid-November last year, excluding US investors.